I said targeting, which doesn't mean "only" for. Targeting means with iPad features, to differentiate from all the existing software, which for the most part already works on the iPad. There's no need to port, because it's the same platform. What we'll see is support for extra resolution and display format, with the inclusion of some new controls and views. It's refactoring and expansion rather than porting (which to me means trying to keep something the same on a different platform)

I hope that all software on the App store continues to support all the iPhone OS devices as much as possible, so that includes support for the lower resolutions on all new apps.

What this means is that the iPad is already getting the attention of existing developers in a big way. Apple mentioned at least a couple of times the term "gold rush" as in the second gold rush. An opportunity for developers to capitalize by being early adopters. The first out of the gate in other words.

Good iPhone software will feature good iPad expansion. Existing crap iPhone software will feature crap iPad expansion. The reason is because the makers of the highest quality apps really give a damn about design and implementation, so they'll try extra hard to provide a great experience on all the devices.